Russia makes some debt payments in dollars, report says, as it seeks to avoid historic debt default – By Sam Meredith (CNBC) / March 17, 2022
- The payment on the two eurobond coupons is a key test for Russia.
- The Kremlin is staring down the prospect of its first foreign currency debt default in more than a century after the U.S. and international allies imposed a barrage of economic sanctions over its invasion of Ukraine.
Russia successfully made at least some of the payments on its sovereign bonds in dollars, according to reports from Reuters, appearing to avoid a historic debt default.
Reuters, citing a source familiar with the situation, reported on Thursday that Russia made payments on its sovereign bonds in dollars to its banks and that money would be distributed to bondholders. The news outlet also reported that some creditors had received those payments.
The delivery of payment on the two eurobond coupons is a key test for Russia. The Kremlin is staring down the prospect of its first foreign currency debt default in more than a century after the U.S. and international allies imposed a barrage of economic sanctions over its invasion of Ukraine.
